Amorphous ferromagnetic alloys are well known and have had wide use throughout industry. One area where amorphous ferromagnetic alloys are receiving particular attention is in the field of electronic article surveillance (EAS) as disclosed by Picard in French Pat. No. 763,681 (1934). Generally, certain amorphous ferromagnetic alloys exhibit high magnetic permeability and low coercivity thereby making their use as an EAS marker attractive. In the prior art, it was suggested to use ferromagnetic strips or wires sandwiched between two attached layers of dielectric material to form markers that can be detected in a magnetic field as described in U.S. Pat. Nos. 4,581,524 and 4,568,921, respectively. U.S. Pat. No. 3,856,513 describes varoius amorphous ferromagnetic alloys and methods for making the same. Although prior amorphous ferromagnetic alloys have worked well, it would be advantageous to have amorphous ferromagnetic alloys that have properties that lend themselves to use in an EAS marker and are easy to fabricate, while being less expensive. the reason for the relatively high cost of prior amorphous ferromagnetic alloys having desired properties was occasioned by the need to include a high content of boron in their compositions, usually between 7 and 20%. Boron is an expensive material and generally is the most expensive ingredient in prior amorphous ferromagnetic materials.